The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-03-23

year ago. and in territory which for business
quadrupes that of the territory acquired by the
other companies. In New England, for in
stance. they have secured roads over which six
teen different local express companies did the
business. and a very profitable business as well.
as these companies roads passed through all the
leading New England towns. 1t is stated Off
ciallv that the earnings of the American Elk
press Company are now running 81 per cent
ahead of those in the corresponding period of
1856, and far ahead of any former year.
Within the last ninety days William r. Nc
Keen president Of the Terre Haute & Indian
apolis road, has had three excellent opportunities
to dispose of his interest in the road at a hand
some advance over its stock capitalization and
the bonded debt resting upon the property. One
party was the Pennsylvania Company, another
the NJ f. ingalls, syndicate, which desired to
purchase the Terre Haute g. Indianapolis and the
lease of the Vandalia by that company and
establish through line between st. Louis and
Cincinnati under one company, and the third
party was the Mackey syndicate, controlling the
several lines leading north out of Evansville.
President McKeen, who holds the key to the sit
uatiop, he owning the majority OF the stock
gave neither party any encouragement that he
would relinquish his hold. he we'll understand
ing that the T. Fl. & l. is too good an invest
meut to let 60 Of.
What has soured the milk of human kindness
with respect to the issuance of free passes more
than anything, on the part of railway managers.
has been the sale of them by their holders to
are always marked mot transferable" it often
occurs that the same pass is used by dozen
different persons. The liability of the ordinary
railroad ticket to scalping has given rise to hun
dreds of inventions intended to lessen the "evl"
of the transfer Of tickets from the original
holder to others. One of these ''non-scalping
tickets, known as the Prltchard patent, is so
arranged that by means of punch the station
agent can indelibly register upon it complete
description of the original holder. Tickets SINH
lar to these were introduced in Colorado not
| long ago by George III. Daniels. commissioner of
| the Central Traffic Association and scalpers fled
| from that section in disgust.
| tits stated that should the rates established
1 by the Western connections of the Eastern
| trunk-lines govern and Obtain-that is, If the
short haul principle rules local freghts against
| the rates for the long haul established by the
east-bound roads-it will force the Illinois COM
missioners to put in effect scale at least % per
| cent below that now governing. Well-posted
officials claim, for example, that the revenues of
| the Vandaia and the Ohio & Mississippi lines
| will be cut down 80 per cent on the trunk line
| range of new rates, and every road In the State
| south of Chicago will be more or less hurt by
| the action of the autocratic trunk combina-
ton. The Chicago Times saws: at is hardly
| probable that the independent Western roads
| will tamely submit the dictation of either
| Chairman Fink Blanchard, and. not being
quite powerless, will take such vigorous and de
cided action will keep all of their revenues
from being diverted to trunk-line Golfers"
The Wabash Intervening Petition Dismissed
ST. LOUIS, March 22.-In the Circuit Court,
| this morning, Judges Brewer and Thayer de-
cided the intervening petition of holders of
bonds of Wabash lines east Of the Mississippi
river for payment to them Of nearly million
and half dollars which the interveners claimed
was earnings in excess Of expenses on those
lines. Judge Brewer reviewed the application
k.co ga;
which was the dismissal of the application He
said the purchasing committee was purchaser
of the system under terms and conditions pre-
scribed by the court 1t bought the property
subject to the underlying mortgages, and wa.
| not bound to pay those mortgages. 1t was two
months after the decree was entered that it was
suggested to him that by any possible reading of i
any one could find that the committee wa:
bound to pay those mortgages. AS to the sug
gestions made by the cOmplAlnants' attorneys
with respect to the release of the west lines t,
the purchasing committee. he said it was no con
Germ of the compliments what became OF tn,
west lines. There was time when ont
! could foresee that the burden of receivers Ger
tificates would not fall upon those lines for pay
ment. and the court ordered separate account
to be kept for each line, hut when the final pay
ment is made by the committee it will be seeI
, that all the Indebtedness of the recelvership i
wiped away. He took up the point, hardl,
! touched upon in the argument. the silence O
the complainants from the beginning of the re
ownership as to its acts and incidents. and hell
! that they could not now complain of the diver
, sion of funds. They were in court b.
their trustees during this time, and mad
a no objection until after the decree was entered
. The order on the application would be that it
dismissed.
Judge Brewer then said that, instead of takin
the suggestion of General Hubbard. of the pur
chasing committee. that the committee be at
thorized to turn the lines west over to the Wa
II p Ra,1r NAvr I'D ~,
! company be allowed to give the bond of ST 900
900 required by the order of Dec. 81 1886, befor
entering on possession, the court would orde
that the committee shall give bond in the SUI
= ;. of $3.50. 900 for the payment of the receiver
certificates as they become due. There will
certificates amounting to 1884. 600 due in Jun,
q and the balance shortly afterward, so befor
Jan. 1, 1885, the receivers will be discharged.